In 1973, Mauritania replaced the CFA franc with the ouguiya at a rate of 1 ouguiya = 5 francs. Mali readopted the CFA franc in 1984, at a rate of 1 CFA franc = 2 Malian francs. The former Portuguese colony of Guinea-Bissau adopted the CFA franc in 1997,[4] replacing the Guinea Bissau peso at a rate of 1 CFA franc = 65 pesos.

In 1948, aluminium 1- and 2-franc coins were introduced. These were followed in 1956 by aluminium-bronze 5, 10 and 25 francs. All carried the name Afrique Occidentale Française. In 1957, 10- and 25-franc coins were issued with the name of Togo added. From 1959, coins have been issued by the BCEAO.

Nickel 100-franc coins were introduced in 1967, followed by the cupro-nickel 50-franc coins in 1972. Small, steel 1-franc coins were introduced in 1976 (struck until 1995), followed by bimetallic 250 francs in 1992 (struck until 1996). In 2003, bimetallic 200- and 500-franc coins were introduced.

When the CFA franc was introduced, notes issued by the Banque Centrale des États de l'Afrique Occidentale in denominations of 5, 10, 25, 50, 100 and 1000 francs were in circulation. 500-franc notes were added in 1946, followed by those of 5,000 francs in 1948. In 1955, the Institut d'Emission de l'A.O.F. et du Togo took over the production of paper money, issuing notes for 50, 100, 500 and 1000 francs.

In 1959, the BCEAO took over the issuance of paper money and reintroduced a 5,000-franc note. With the exception of a few early issues, the notes of the BCEAO carry a letter to indicate the country of issuance. 50-franc notes were last issued in 1959, with 100 francs not issued since 1965. 10,000-franc notes were introduced in 1977, followed by 2,500-franc notes in 1992

In 2004, a new series of notes was introduced in denominations of 1,000, 2,000, 5,000 and 10,000 francs, with the 500-franc note having been replaced by a coin the year before. The newer notes contain updated security features and are more modern in design. The change was welcomed because of a perception that the old notes were dirty and disease-ridden (1). The colour of the 5,000-franc note was changed from blue to green. On November 30, 2012, the Banque Centrale des États de l'Afrique de l'Ouest (Central Bank of the West African States) issued a 500 franc banknote.[5][6]